Bittensor’s TAO token shows a bullish structure but struggles to breach the critical $500 resistance level, currently consolidating between $425 and $435. Traders anticipate a breakout as the asset enters an accumulation phase following a 35% price surge over the past three weeks.
Strong support at the $400 zone offers a potential reversal point for renewed upward momentum. Recent technical signals revealed bearish divergence on the Money Flow Index, triggering an 11% corrective pullback, though a positive Chaikin Money Flow reading indicates this remains a healthy market correction.
The asset’s momentum faced additional pressure from Bitcoin’s minor price dip, temporarily delaying breakout attempts. Continued consolidation within the $425-$435 band suggests strengthening accumulation, potentially laying foundations for a decisive move upon overcoming resistance levels.